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News & Press: International Trade News

Indian spice exports hit record high

15 June 2017  
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variety of spices on kitchen table

 

Exports of Indian spices and spice products have surpassed all previous export records and surged to a record high in 2016-17.

The country registered an increase of 12 per cent in volume, nine per cent in rupee terms and six per cent in dollar terms from a year ago. It exported spice products worth Rs 17,664.61 crore and a volume of 9,47,790 tonnes in 2016-17.

Chilli continued to be the most sought-after spice with exports of 4,00,250 tonnes amounting to Rs 5,070.75 crore, registering an increase of 15% in volume and 27% in value.

Cumin was the second-most exported spice, recording an increase of 22% in volume and 28% in value. A total volume of 1,19,000 tonnes of cumin valued at Rs 1,963.20 crore was exported from India in 2016-17. The increase was largely due to the mandatory checks on cumin and its by-products implemented by the Spices Board in the backdrop of rapid alerts from importing countries.

Higher global demand for turmeric, especially in the pharmaceutical sector, drove exports to attain figures of 1,16,500 tonnes in volume and crossed H1,241 crore in value terms in 2016-17.

Fennel registered a 129 per cent increase in volume and 79 per cent in value.

The US is the major importer of Indian spices by value followed by China, Vietnam, Malaysia, UAE, UK, Germany, Singapore and Saudi Arabia.

“India has surpassed all previous export records and has fulfilled the increasing international demand for its quality spices in the face of tough competition in global markets. More satisfying was the fact that the appreciable increase in exports came in the face of strict food safety regulations that now define and determine the international commodity trade,” Spices Board chairman A Jayathilak said.